Their Relation to Higher Educationae Einance
25
for example, are sometimes established to commemorate the memory of
certain individuals. This is as good an incentive as the others, for while
it is the erection of a monument to some individual, it serves, at the same
time, purposes other than the individual one. It perpetuates an ideal as
well as a name.
Gifts to Higher Education
Philanthropy has been generous to higher learning. According to
the figures published by the U. S. Bureau of Education, it has given more
to the advancement of higher education than it has to all other education
combined.
„ . . Gifts and Bequests to Higher Education
Gifts and Bequests to
All Education, Including Absolute Per Cent, of
Higher Education Amount Total
1910-12 $30,061,310 $28,185,999 92
1912-14 31,357,398 29,927,138 92
1914-16 37,093,280 34,845.551 94
1916-18 29,856,568 27,450,945 91
1918-20 67,417,156 65,286,159 95
1920-22 78,330,790 77,400,756 99
If all the money which has recently been given for the advancement
of higher education in the way of research were added to the above, it
would be found that this type of education has been receiving an increasing
Proportion of the total amount of money which philanthrophy has given
to education in general. There are three reasons for this: first, elementary
and secondary education have been better provided for by the public
than has higher education; second, money placed in higher education
yields more immediate and conspicuous results—those who have large
sums to give are generally more interested in the spreading of certain
ideals and the advancement of knowledge along certain lines than they
are in merely the development of youth in general; and third, the maintenance
of higher education is becoming increasingly more costly.
Recent Gifts
The question which presents itself now is whether Philanthropie
sources of income will continue to be as generous as they have been. At
first it might seem so, especially if we examine some of the large gifts which
have been made recently. The J. B. Duke and G. Eastman donations
together with the five million which Mr. G. F. Baker gave to the Harvard
School of Business Administration are the most notable. The Eastman
gift, in all, was more than fifty million, of which over forty million was for
higher education. 13 This means that fifty-eight million dollars was given
13 Editorial, “Millions for Higher Education”, Outlook, Dec. 17. 1924.
